Issue - meetings

Report attached.

Officers had prepared the Annual Report for the year ending 31 March 2016 in accordance with Regulation 57 of the Local Government Pension Scheme Regulations 2013, which applied for reporting periods beginning 1 April 2014. The authority must publish the pension fund annual report on or before 1 December following the year end.

The Regulations stated that the annual report must contain the following:

a)       Management and Financial Report;

b)       Investment Policy and Performance Report;

c)       Scheme Administration Report;

d)       Actuarial Statement;

e)       Current version of the Governance Compliance Statement;

f)        Fund Account and Net Asset Statement (including Audit opinion);

g)       Levels of performance set out in a Pensions Administration Strategy;

h)       Current version of Funding Strategy Statement;

i)         Current version of Statement of Investment Principles;

j)         Current version of Communication Strategy;

k)       Any Other Material.

In preparing and publishing the pension fund annual report the authority must have regard to guidance given by the Secretary of State. On 18 August 2014 the Department of Communities and Local Government (DCLG) had issued a letter stating that authorities should use the guidance published by the Chartered Institute of Public Finance and Accountancy.

The pension fund annual report had been prepared in accordance with the guidance issued by the DCLG and with regard to the updated CIPFA/PRAG guidance issued in August 2014.

The Committee have:

1.    Agreed the 2015/16 Pension Fund Annual report;

2.    Agreed that the Pension Fund Annual Report should be published electronically; and

3.    Authorised the Chairman and Chief Executive to conclude and sign so far as necessary, the annual report.